Experts expect price increases in the supermarket

Female customer in the supermarket

The increased costs in pre-production have a direct impact on the end customer. GfK market researchers expect prices for many products to rise.

(Photo: dpa)

Düsseldorf Robert Kecskes paints a gloomy picture for supermarket customers. “We will probably see significant price increases in the second half of the year,” predicts the industry expert from market researcher GfK. “The raw material costs are rising, the freight costs are rising and the effects of the accident in the Suez Canal are not to be underestimated,” he says in an interview with the Handelsblatt.

By May the prices for food had already risen by 2.9 percent and thus slightly more than in the previous year. In 2020, inflation fell to below one percent in the following months. That won’t happen again this year.

Because the procurement costs have risen dramatically. The price index of the World Food Organization (FAO), which shows the development of the most important agricultural products, has risen by 34 percent since June last year.

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